Capital Markets

Company Overview of Third Point LLC

Company Overview

Third Point LLC is an employee owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles. It also caters to investment companies. The firm typically invests in the public equity and fixed income markets across the globe. It also invests in ADR’s. The firm primarily invests by employing event driven value oriented strategy. It also makes real estate investments. The firm conducts fundamental research to make its investments Third Point LLC was founded in 1995 and is based in New York City with additional offices in New York City, Sunnyvale, California; Los Angeles, California; Stamford, Connecticut; Bangalore, India, and Hong Kong.

Third Point LLC Key Developments

Dow Chemical Plans To Increase Its Divestiture Target

Nov 14 14

Third Point Chief Executive Officer Daniel Loeb had called for The Dow Chemical Company (NYSE:DOW) to spin off its petrochemical unit, but been rebuffed. Dow "fundamentally disagrees" with Third Point's statements, which show little interest regarding benefits to long-term shareholders, Dow said in a statement. "Our board and management team are aggressively pursuing the best interests of all shareholders and managing the business for both the short and long term," Dow said. During an investors event on November 12, 2014 and November 14, 2014, Dow announced plans to increase its divestiture target to $7 billion-$8.5 billion by mid-2016.

Third Point Reportedly Takes Stake In Ebay

Sep 30 14

Third Point LLC has taken a "significant" stake in eBay Inc. (NasdaqGS:EBAY) and has had discussions with its chief executive officer, a source familiar with the matter said on September 30, 2014. The source with knowledge of Third Point's interest in eBay did not say what changes the hedge fund sought, or whether it worked in tandem with Carl Icahn.

TransCanada Reportedly Takeover Target Of US Investor Activists

Sep 18 14

TransCanada Corp. (TSX:TRP) may soon have more of U.S. activist investors knocking on its door, reported Reuters. TransCanada is emerging as a possible target, with several U.S. activist hedge funds reviewing the nearly $38 billion pipeline operator as a break-up candidate, reported Reuters citing people close to the matter. The people said that discussions about a potential campaign are still in the early stages, but some of TransCanada's largest shareholders have been contacted by hedge funds interested in shaking up one of North America's biggest pipeline companies. The people, asking not to be named because the matter is not public, said that These actions have also led to discussions by the TransCanada board surrounding the company's strategic direction. TransCanada said that only that it is committed to acting in the best interests of shareholders, citing a company policy not to comment on rumors. Shawn Howard, Spokesman of TransCanada said, "The enhancement of shareholder value is discussed at every meeting of TransCanada's board of directors. TransCanada has a well-defined strategic plan in place to increase long-term shareholder value and we are focused on continuing to deliver on this plan successfully." That scenario triggered investor interest and several large U.S. hedge funds that pursue activist investing strategies, including Third Point LLC, have looked at the company, reported two people familiar with the matter. The people familiar with Third Point said that Daniel Loeb has amassed a position over the last few months. Third Point declined to comment.

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